# UK Freezes Thet Li’s Assets Amid $15B Bitcoin Forfeiture Case

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/30195
Published: 2026-10-12T10:17:00.000Z
Updated: 2026-10-12T10:17:00.000Z
Section: Regulation

> The U.S. seeks forfeiture of approximately 127,271 Bitcoin tied to allegations against Prince Group chairman Chen Zhi.

The United Kingdom has frozen the assets of Thet Li, whom British and U.S. authorities accuse of managing the international finances of the Prince Group network, as the United States pursues forfeiture of about 127,271 Bitcoin (BTC).

The U.K. sanctions, effective March 26, include an asset freeze, travel ban and disqualification from serving as a company director. British authorities describe Li as a key lieutenant of Prince Group chairman Chen Zhi.

The U.S. Justice Department’s civil forfeiture complaint valued the Bitcoin at about $15 billion when it was filed Oct. 14, 2025. The cryptocurrency was held in U.S. government custody, and the action remains a forfeiture case rather than a completed seizure or final criminal judgment.

U.S. prosecutors accuse Chen of wire-fraud and money-laundering conspiracies linked to forced-labor scam compounds in Cambodia. Treasury sanctions separately identified Li as Prince Group’s de facto illicit-finance chief and accused him of managing illicit funds and bulk cash movements.